Round-up of news from the US with Terra-Gen completing a solar-plus-storage project in California, Duke Energy Florida planning to build a 300MW solar PV portfolio and Altus Power acquiring nearly 200MW of PV projects from Arevon.
Terra-Gen completes 365MW + 173MW hybrid solar facility in California
Independent power producer (IPP) Terra-Gen has completed its US$950 million Lockhart solar-plus-storage project in San Bernardino County, California.
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The solar park comprises more than 925,000 solar modules generating 365MW. The site also has 173MW of battery energy storage system (BESS). The facility is expected to generate more than US$40 million in property taxes over its operational life. The Lockhart facility is subject to various offtake agreements and PPAs with organisations the company describes as “corporate buyers and California load-serving entities”. Financing for Lockhart III & IV was arranged in December 2025, comprising a US$236.1 million tax equity bridge loan, a US$107.5 million construction and term loan and US$39.7 million of unfunded facilities.
A US-focused supply chain is evident at the recently completed Lockhart project, with thin-film cadmium telluride module manufacturer First Solar and solar PV solutions provider Nextpower supplying solar modules and trackers, respectively. Cupertino Electric was the principal EPC provider at Lockhart, and EPC Services was the high-voltage contractor.
Terra-Gen has a total of 4.4GW in renewable energy generation and 5.6GWh BESS in its portfolio. The company is jointly owned by Masdar and Igneo, each holding 50% of Terra-Gen.
The company won approval at the end of September from Kern County authorities for a 3,500-acre, 600MW solar PV and 4GWh BESS hybrid project near California City, California.
Duke Energy Florida to build four new solar parks totalling 300MW
Regional energy utility Duke Energy Florida has filed with the Florida Public Service Commission to build four solar energy sites in Orange and Sumter counties, with completion expected by June 2028. The combined sites will generate 300MW of clean energy, the company said.
The Nova, Wewahootee and Bull Creek Renewable Energy Centers will begin construction in Orange County between January and May 2027, with expected completion dates between February and June 2028.
Construction of the Hogeye Renewable Energy Center in Sumter County is to begin in May 2027, and has an expected completion date of May 2028.
Duke Energy Florida said it will build over 1GW of BESS in the next ten years, although whether any of this is intended for the Orange and Sumter Counties solar parks is not stated.
Duke Energy Florida is a subsidiary of Charlotte, North Carolina-headquartered Duke Energy. According to a third-quarter earnings call on 5th November, Duke Energy has a 15.4GW contracted large-load pipeline, which will be fulfilled in part via US$103 billion in spending. Duke Energy has secured about one-third of a $10 billion in equity it needs to execute on its strategy, CFO Brian Savoy said in the earnings call.
Altus Power acquires 92 renewable energy projects from Arevon
Community solar and commercial & industrial (C&I) solar developer Altus Power has acquired 92 projects in 13 states from IPP Arevon, adding nearly 200MW of solar PV and 10MWh of battery storage. The acquisition takes Altus’ operating portfolio of solar generation and battery energy storage to 1.7GW across 34 US states.
Altus Power operates ground-mounted, rooftop and carport solar and battery storage projects that serve commercial businesses, municipalities and the education and community sectors. Community solar is a growing part of Altus Power’s portfolio, with the company now serving more than 40,000 community solar subscribers.
The acquisition was part-financed by an existing credit facility from global alternative asset manager Blackstone.
Dustin Weber, chief financial officer at Altus Power, said: “Our size and operating track record gives us access to a deep pool of institutional capital that is typically out of reach for smaller platforms, allowing us to efficiently close acquisitions of operating portfolios like Arevon’s.”
In December 2025, Altus acquired around 100 solar projects generating 234MW from Greenbacker, and added a further 105 MW to its portfolio a month later, absorbing four solar projects, under construction at the time in New York State, from IPP Cordelio Power.
